British pharmaceuticals giant GlaxoSmithKline has agreed a $350-million deal with Adaptimmune to help develop and sell the biotechnology firm's cancer drugs, the companies said on Monday.
Adaptimmune announced in a statement that it has entered a "strategic cancer immunotherapy collaboration" with GSK to "develop and commercialise novel cell-based therapies" in its lead clinical cancer programme.
The biotech firm, which is based in Oxford, southern England and Philadelphia, has had success in trials in using T-cells, the heavy weaponry of the immune system, to target cancer cells.
The GSK deal, worth the equivalent of 260 million euros could yield payments in excess of $350 million to Adaptimmune over the next seven years, according to the statement.
There would also be "significant" additional development and commercialisation payments in subsequent years, if GSK exercises all its options and milestones continue to be met.
Adaptimmune would also receive royalties ranging from single to double digits on net sales.
The statement added that trials in Adaptimmune's lead programme, in multiple myeloma, melanoma, sarcoma and ovarian cancer in the United States, are generating "encouraging" results. European trials are set to start shortly.
Monday's announcement meanwhile follows the collapse last week of US drugs giant Pfizer's $117-billion takeover offer for GSK's key British rival AstraZeneca.
It also comes after GSK agreed last month to sell its oncology business to peer Novartis for $16 billion and to buy the Swiss group's vaccines division.
Explore further: Probe-hit GlaxoSmithKline announces profits slump
© 2014 AFP
Medical Xpress on facebook
Related Stories
Probe-hit GlaxoSmithKline announces profits slump
Apr 30, 2014
GlaxoSmithKline, the British drugs giant facing a series of probes into alleged staff corruption, announced sliding profits on Wednesday, one week after unveiling a group makeover.
GSK says lifts Indian pharmaceutical unit stake to 75%
Mar 10, 2014
GlaxoSmithKline has lifted its stake in the group's Indian subsidiary to 75 percent, the British drugmaker said on Monday.
Embattled GlaxoSmithKline hit with another fraud probe
May 27, 2014
Britain's fraud agency on Tuesday said it had launched a probe into pharmaceutical giant GlaxoSmithKline, which is already subject of a series of investigations into alleged staff corruption.
Novartis reshapes business with GSK, Lilly deals (Update)
Apr 22, 2014
Swiss pharmaceutical firm Novartis AG launched a major overhaul of its business Tuesday, unveiling a series of multibillion-dollar deals with Britain's GlaxoSmithKline PLC and the U.S.'s Eli Lilly & Co. that ...
GSK says sells thrombosis brands, French site
Sep 30, 2013
British drugs firm GlaxoSmithKline (GSK) said Monday that it has sold two thrombosis brands and a French plant to South African peer Aspen for £700 million ($1.13 billion, 834 million euros).
Recommended for you
Cholera vaccine is 86 percent effective, study reports
May 29, 2014
A cheap and easy to deliver oral vaccine against cholera is 86 percent effective in preventing the infection which causes severe diarrhea and can be fatal, researchers said Thursday.
Italy seeks 1.2 bn euros in anti-trust damages from Roche, Novartis
May 28, 2014
Italy's health ministry is seeking 1.2 billion euros ($1.6 million) in compensation from Swiss pharma giants Novartis and Roche for the manipulation of sales of a cheap drug used to treat eye problems, Italian media reported ...
Sanofi acquires over-the-counter rights for Cialis
May 28, 2014
French drugmaker Sanofi is buying the rights to seek approval for a version of the erectile dysfunction drug Cialis that customers would be able to buy without a doctor's prescription.
Boehringer Ingelheim pays $650 mn to settle lawsuits
May 28, 2014
German pharmaceuticals maker Boehringer Ingelheim said Wednesday it has agreed to pay $650 million to settle around 4,000 lawsuits relating to its blood-thinning drug Pradaxa.
Experimental trial represents promising step toward universal antidote for snakebite
May 28, 2014
A team of researchers, led by Dr. Matthew Lewin of the California Academy of Sciences and Dr. Stephen P. Samuel of Trinity College Dublin, Ireland has taken another promising step toward developing a universal ...
NICE approves MS drug developed by University of Cambridge researchers
May 28, 2014
A new drug based on decades of research at the University of Cambridge has today been approved by the National Institute of Health and Care Excellence (NICE) for use in people with relapsing-remitting multiple sclerosis. ...
User comments
© Medical Xpress 2011-2014, Science X network
British pharmaceuticals giant GlaxoSmithKline has agreed a $350-million deal with Adaptimmune to help develop and sell the biotechnology firm's cancer drugs, the companies said on Monday.
Adaptimmune announced in a statement that it has entered a "strategic cancer immunotherapy collaboration" with GSK to "develop and commercialise novel cell-based therapies" in its lead clinical cancer programme.
The biotech firm, which is based in Oxford, southern England and Philadelphia, has had success in trials in using T-cells, the heavy weaponry of the immune system, to target cancer cells.
The GSK deal, worth the equivalent of 260 million euros could yield payments in excess of $350 million to Adaptimmune over the next seven years, according to the statement.
There would also be "significant" additional development and commercialisation payments in subsequent years, if GSK exercises all its options and milestones continue to be met.
Adaptimmune would also receive royalties ranging from single to double digits on net sales.
The statement added that trials in Adaptimmune's lead programme, in multiple myeloma, melanoma, sarcoma and ovarian cancer in the United States, are generating "encouraging" results. European trials are set to start shortly.
Monday's announcement meanwhile follows the collapse last week of US drugs giant Pfizer's $117-billion takeover offer for GSK's key British rival AstraZeneca.
It also comes after GSK agreed last month to sell its oncology business to peer Novartis for $16 billion and to buy the Swiss group's vaccines division.
Explore further: Probe-hit GlaxoSmithKline announces profits slump
© 2014 AFP
Medical Xpress on facebook
Related Stories
Probe-hit GlaxoSmithKline announces profits slump
Apr 30, 2014
GlaxoSmithKline, the British drugs giant facing a series of probes into alleged staff corruption, announced sliding profits on Wednesday, one week after unveiling a group makeover.
GSK says lifts Indian pharmaceutical unit stake to 75%
Mar 10, 2014
GlaxoSmithKline has lifted its stake in the group's Indian subsidiary to 75 percent, the British drugmaker said on Monday.
Embattled GlaxoSmithKline hit with another fraud probe
May 27, 2014
Britain's fraud agency on Tuesday said it had launched a probe into pharmaceutical giant GlaxoSmithKline, which is already subject of a series of investigations into alleged staff corruption.
Novartis reshapes business with GSK, Lilly deals (Update)
Apr 22, 2014
Swiss pharmaceutical firm Novartis AG launched a major overhaul of its business Tuesday, unveiling a series of multibillion-dollar deals with Britain's GlaxoSmithKline PLC and the U.S.'s Eli Lilly & Co. that ...
GSK says sells thrombosis brands, French site
Sep 30, 2013
British drugs firm GlaxoSmithKline (GSK) said Monday that it has sold two thrombosis brands and a French plant to South African peer Aspen for £700 million ($1.13 billion, 834 million euros).
Recommended for you
Cholera vaccine is 86 percent effective, study reports
May 29, 2014
A cheap and easy to deliver oral vaccine against cholera is 86 percent effective in preventing the infection which causes severe diarrhea and can be fatal, researchers said Thursday.
Italy seeks 1.2 bn euros in anti-trust damages from Roche, Novartis
May 28, 2014
Italy's health ministry is seeking 1.2 billion euros ($1.6 million) in compensation from Swiss pharma giants Novartis and Roche for the manipulation of sales of a cheap drug used to treat eye problems, Italian media reported ...
Sanofi acquires over-the-counter rights for Cialis
May 28, 2014
French drugmaker Sanofi is buying the rights to seek approval for a version of the erectile dysfunction drug Cialis that customers would be able to buy without a doctor's prescription.
Boehringer Ingelheim pays $650 mn to settle lawsuits
May 28, 2014
German pharmaceuticals maker Boehringer Ingelheim said Wednesday it has agreed to pay $650 million to settle around 4,000 lawsuits relating to its blood-thinning drug Pradaxa.
Experimental trial represents promising step toward universal antidote for snakebite
May 28, 2014
A team of researchers, led by Dr. Matthew Lewin of the California Academy of Sciences and Dr. Stephen P. Samuel of Trinity College Dublin, Ireland has taken another promising step toward developing a universal ...
NICE approves MS drug developed by University of Cambridge researchers
May 28, 2014
A new drug based on decades of research at the University of Cambridge has today been approved by the National Institute of Health and Care Excellence (NICE) for use in people with relapsing-remitting multiple sclerosis. ...
User comments
© Medical Xpress 2011-2014, Science X network
0 comments:
Post a Comment